Cypress Sharpridge Investments, Inc. (NYSE: CYS) has filed to come public in an effort to raise capital. The company will operate as a REIT and plans to invest all of its new capital exclusively in residential mortgage backed securities for which the principal and interest payments are guaranteed by a U.S. Government agency or a U.S. Government-sponsored entity.
Cypress Sharpridge Investments is a Maryland-registered corporation which is currently managed and advised by Cypress Sharpridge Advisors LLC, a joint-venture between The Cypress Group and Sharpridge Capital Management, L.P.
The company has proposed the ticker "CYS" on the New York Stock Exchange. Lead underwriters are Bear Stearns, Friedman Billings Ramsey, and UBS Investment Bank. Co-managers are listed as Fox-Pitt Kelton Cochran Caronia Waller and also Keefe, Bruyette & Woods.
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Jon C. Ogg
April 2, 2008
Jon Ogg produces the Special Situation Investing Newsletter and he can be reached at firstname.lastname@example.org; he does not own securities in the companies he covers.